Tides principal finds buyer for $22M Brentwood manse
A multifamily investor tried his hand at single-family residential and has found a buyer willing to pay $22.3 million for the remodeled Brentwood estate.
Sean Kia, co-founder and principal of multifamily investor Tides Equities, turned the home at 414 South Cliffwood Avenue less than four months after placing it on the market for $25.5 million, according to listing sites.
Kia bought the home via a trust from Sarah Addington, the ex-wife of Endeavor CEO Ari Emmanuel, property records show. The trust paid $14.5 million for the home in 2023.
Kia told The Real Deal at the time of the purchase he bought it as an investment property, with plans to renovate and then flip it.
“Not as many multifamily deals to be had right now, so doing a single-family deal,” Kia told TRD at the time.
Tides Equities, which Kia started with Ryan Andrade in 2016, has a property portfolio that includes apartments in Texas, Arizona and Nevada. Lenders, however, have more recently been circling the company and its founders in matters of loan defaults.
The most recent of those disputes could hold Kia responsible for $32 million and Andrade for $36 million if Tampa-based Electra Capital can recoup on recourse guarantees associated with two mezzanine loans, TRD reported last month. Recourse guarantees allow the lender to collect from the guarantor in cases of default.
The loans are tied to two Texas apartment properties, one each in Fort Worth and Arlington. Electra’s suit is the fourth to lodge allegations and seek damages from Tides’ principals.
Kia did not respond to requests for comment on the Brentwood property and its sale.
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The listing, held by The Agency’s H. Blair Chang and Mauricio Umansky, noted the 1987-built property underwent a remodel last year, but was scant on details.
Douglas Elliman’s Mark Douglas negotiated on behalf of the buyer and declined to comment on his client.
A trust tied to Jean-Marc Chapus, the co-founder and managing partner of Los Angeles-based Crescent Capital, bought the property, according to the deed.
The over 9,600-square-foot home has a study, meditation room, piano room, pool and cabana, sport court and four guest bedrooms set off in their own wing of the main residence. A 2,800-square-foot guest house touts a theater, billiard room and gym. In all, there are seven beds and 13 baths on the over half-acre lot.
This article originally appeared on The Real Deal. Click here to read the full story.
